Annuities are a type of financial product which are primarily used to produce income as part of a financial plan for retirement income needs.
There are different types of annuity products and designs and uses of annuities, although, they are primarily used to fund guaranteed income during retirement.
The different types of annuity products are as follows : fixed annuities, fixed indexed annuities, immediate annuities, deferred annuities, and variable annuities.
These products can fit into a person’s portfolio of products to help them reach their financial goals. It is best to discuss with a financial professional about these products and their designs to see what is best for a particular person.
Recent Comments